Here is a great interview with Robert Prechter. I highly recommend tuning in. His consistent views about the markets, deflation, credit contraction, and the lack of power at the Fed make for a lot of valuable input for anyone watching the markets, regardless of political affiliation.
In particular, what I appreciate about Prechter is his unmatched long term view of things. He breaks down economic history into huge cycles and smaller sub-cycles, which enables the reader and listener to get an excellent overview and put our current situation into perspective.
On top of that, he understands and incorporates the importance of social moods on markets into all of his analyses. A lot of economists are missing this important factor, and hence derive at questionable conclusions.
Enough praise, here is the interview: